AstraZeneca makes $2 billion equity investment in Summit Therapeutics via convertible preferred shares

By Public Technologies
  • AstraZeneca to invest USD 2 billion in Summit Therapeutics via convertible preferred shares in a strategic equity deal.
  • Investment priced at USD 18.36 per common share equivalent, based on a 5-day VWAP plus 10% premium.
  • AstraZeneca to buy about 108,955 preferred shares convertible into common stock at a 1:1,000 ratio.
  • Closing expected by end of this week, subject to customary conditions.


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